There have been no police reports that document or point to illicit activity on the premises...

For that reason, she didn't even have flood insurance.

I'm not sure if you can refi a VA loan though if your not living in it because you would have to sign the VA document again that states you intended to make this your primary residence, which is not true since you have renters in it.

Do not try to do everything yourself.Always do the math analysis and try to look at the subject property before you make an offer or at least have a clause in the sales contract that allows you the time (usually about 15 days) to make a detailed inspection and possibly back out of the deal without a penalty that hurts   Right after you close on a deal get an insurance policy that will protect you in case of a loss.Just do what is average for the neighberhood.  

If you are 50/50, you will both have to provide equal amounts of documentation and the jet for your foreign national partner will be having US Banked Assets of his own and deoenging on the lender, loan type and term, the FN partner may need a FICO score as well.Good luck 

Of course, any RE investment can have a bad year, so you also need to account for the possibility that taxes, insurance, or mortgage payments may not be fully covered by rental income if you have a lot of vacancy due to repairs, low rental demand etc  - basically what is the worst case scenario cash-flow and expense wise?

Some people will say, "Take out a quality Insurance Policy and you will be protected."

I understand the importance of purchasing Title Insurance and always do, just curious if that process is something they are required to always do, are there any laws that require them to do so?

Assumptions $8,106.00 Take Home Pay Income http://www.taxformcalculator.com/tax/150000.html ($2,611.60) Student Loan 230k, 10 yr amort, 6.5% ($150.00) Minimum Monthly CC Payment I have no idea how to calculate this, so I put this number in ($648.36) Principal & Interest 140k, 30 yr amort, 3.75% ($187.50) Taxes & Insurance 1.5% of 150k house ($179.69) Car payment 10k, 5 yr amort, 3% $4,328.85 Total After Leverage   ($2,828.85) Monthly Spending Even after $1k groceries, $200 gas, $200 cable+phone?

There is no real value to having a LLC, unless you have employees, and really not necessary with adequate insurance coverage.